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BRASILIA, Nov 5 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA reduced cuts in oil production caused by a labor strike to 127,000 barrels on Thursday as contingency plans took effect, the company said in a statement.
On Wednesday, Petrobras oil production was 140,00 barrels, or 6.5 percent, lower than pre-strike levels, an improvement for the company from an output cut on Tuesday of 178,000 barrels, or 8.5 percent.
A company source said Petrobras management is not planning to give in to union demands to stop asset sales and there was no end in sight to the walkout that began on Sunday. (Reporting by Anthony Boadle; Editing by Andrew Hay)